Angie's List Details Massive ExpansionPosted: Updated:
Indianapolis-based Angie's List Inc. (Nasdaq: ANGI) says it will expand its headquarters and create 1,000 jobs by 2019. The company says it will also consolidate an additional 800 jobs from multiple other locations to its downtown Indianapolis campus. The online consumer review business plans to invest approximately $40 million into the expansion. The state and city are supporting the project with nearly $25 million in combined incentives. Angie's List plans to begin hiring next year for positions including information technology, sales and member services. The announcement comes about two months after the company announced it would cut nearly 100 staff positions. Earlier this month, a spokeswoman said Angie's List would not comment on rumors that it may be looking for a buyer.
October 14, 2014
Indianapolis, Ind. -- Governor Mike Pence joined Indianapolis Mayor Greg Ballard and executives from Angie's List, Inc., a nationwide services marketplace and provider of consumer reviews on local service companies, today to announce the company's plans to expand its headquarters here, creating 1,000 new jobs and consolidating an additional 800 jobs from multiple locations to its campus on the eastside of downtown Indianapolis by 2019.
"If there was ever any question whether Indiana was a state where high-growth companies could reach their full potential, just look at Angie's List," said Pence. "This company grew from one person with an idea to a national operation with a team of Hoosiers that just keeps growing. Small companies grow into big companies in Indiana, where teams of Hoosiers do big things powered by a stable and affordable business climate."
The company will expand its corporate campus on Indianapolis' near east side. In addition to making improvements to facilities on its current campus footprint, Angie's List will renovate the 176,000 square-foot former Ford manufacturing facility currently owned by Indianapolis Public Schools just east of the company's current campus, which will be ready for occupancy in 2017. Angie's List will also construct a parking garage with in excess of 1,000 parking spaces across from the company’s current campus, which will be ready for use by 2016. Through these projects, the company will invest approximately $40 million over the next several years, enabling it to continue its rapid growth in Indianapolis and participate in the revitalization of the East Washington Street corridor.
"Angie's List is thrilled to commit to further expansion in the state of Indiana," said Angie Hicks, co-founder of Angie's List. "The combination of Indiana's pro-growth business environment, access to great human capital in central Indiana and the city of Indianapolis' commitment to neighborhood redevelopment has helped to drive our continued growth."
Today's announcement marks the latest Angie's List's Indianapolis expansion over the last three years. The company will grow its headquarters operations from approximately 500 employees in 2011 to 2,800 by the end of 2019. The company has already exceeded its commitments to the city and state for the 2011 expansion commitment and plans to begin hiring next year for positions including information technology, sales and member services.
"Angie's List expansion of its headquarters campus and addition of jobs is tremendous news for our economy and the near eastside," said Ballard. "The commitment of Angie’s List to Indy will continue to anchor the redevelopment of this area and help attract bright people to live in Indy."
Founded in Columbus, Ohio in 1995, Angie's List began with just one employee—co-founder Angie Hicks. After moving its headquarters to its current location in December 2000, Angie’s List has expanded to more than 2.8 million paid memberships in more than 250 local markets across the nation.
The Indiana Economic Development Corporation offered Angie’s List, Inc. up to $6,500,000 in conditional tax credits and up to $500,000 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. In addition, the IEDC will provide the city of Indianapolis with up to $2,000,000 in infrastructure assistance from the state's Industrial Development Grant Fund. The city of Indianapolis will consider additional incentives, including $9.6 million in assistance from the Downtown Tax Increment Finance District for construction of the parking garage and $6.75 million to Indianapolis Public Schools to offset the cost of relocating from the former Ford facility.
National publications continue to recognize Indiana as the best place in the Midwest and one of the top locations in the nation for growing businesses. Indiana’s business climate was ranked first in the Midwest in Area Development’s Top States for Doing Business Survey just last month, which was proceeded by Business Facilities’ 2014 best-in-the-Midwest ranking for Indiana and Pollina Corporate’s ranking of Indiana among the Top 10 Pro-Business States for 2014.
About Angie’s List
Angie's List helps facilitate happy transactions between more than 2.8 million consumers nationwide and its collection of highly-rated service providers in 720 categories of service, ranging from home improvement to health care. Built on a foundation of authentic reviews of local service, Angie’s List connects consumers directly to its online marketplace of services from member-reviewed providers, and offers unique tools and support designed to improve the local service experience for both consumers and service professionals.
Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president of the IEDC.
The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.
Source: Indiana Economic Development Corp.